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Capital,finances,MONEY!!!!!!!!
Nothing, I started my own business in the past. I was very successful. Even more successful than I expected. But in business there are turning points. I made some mistakes, had to quit but I learned from them. I am willing and planning to start again and take the risk. Nothing can stop me. No risk no fun. You never need money to grow great. I started my success story with a very humble amount of400 German marks.
i think mindset because when we grow up everyone will be accepting us to do very good job and nobody would even say why dnt you start your own business..another thing is the red tapsm in my country..
Your actual job satisfaction and the package you are earning right now makes you think twice before thinking of starting your own business and the level of investment required in some cases. As in my case the investment would amount to a minimum of over US $25 million - Five star hotels.
Business plan
Financials
market research
Marketing plan
Location
People
From my point of view I will stop If any of the below not well done:
Ø Vision Statement (creates passion)
Ø Mission Statement (creates purpose)
Ø Strategic Goals and Objectives (set direction)
Ø Strategies and Tactics (generate action)
Ø Philosophy Statement (creates ethical boundaries)
Ø Focus (creates efficiency)
Ø Value Statements (create a scale of importance)
Ø Principles (benchmark behavior)
Ø Strategic Intent (signals commitment)
The First and Foremost is we don't want to try something new by leaving the comfortable life what we have now as an employee- Handsome Pay, Sophisticated Life style; fixed Working Hours; Ease in getting the loan; No Headache....!!!!! and so on.. We don''t want to compromise the above though the business may fetch you more after few years and we can settle down with high recognistion if EVERYTHING GOES AS PLANNED!!!!
In Simple terms
Money Required and the Thread Involved;
I don't really want to start my own business. Does it count though, that during my teenage years I used to draw and I had this dream of becoming the most prestigious fashion designer? I am kidding. I don't have this expectations from life (In my dreams I was awesome!)
LACK OF PERFECT TEAM ON WHICH BUSINESS CAN BE DEPENDABLE AS BUSINESS IN NOT ONE MAN SHOW !!!!
Perfect team includes all the apsects
